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Supply and Demand Teacher Resources
Find teacher approved Supply and Demand educational resource ideas and activities
Kids consider the economic concepts of goods, services, supply, and demand by assessing the impact toy fads have on consumer behavior. They watch a clip from the film Hudsucker Proxy, discuss Hula-Hoops and Silly Bandz, then use those toy fads as case studies for equilibrium price, and supply and demand.
Investigate the wonders of supply and demand curves. Learners create and graph supply and demand curves, and as a class, discuss the properties of the curves. They investigate how price affects the quantity demanded and supplied and discuss what factors may cause changes in the demand and supply curves.
Now that your scholars have some career aspirations, it's time to explore the demand for these professionals based on labor projections. They explore the Law of Supply and Demand in a guided discussion, outlined here. There are some great prompts that will lead pupils into understanding of these sometimes difficult economic concepts. How does this law impact their buying power? How can it impact their future career choices? The labor statistics links here are specifically for Florida, so consider researching resources for your own area.
Young scholars define economic terms, list three conditions that must be present in order for demand to exist, define law of supply and demand, differentiate between buyer's and seller's markets, examine concept of elasticity, view tutorial on Virtual Economics, answer questions on consumer questionnaire, and compile results in spreadsheet format.